I'm not skilled at programming but there were two of us trying to accomplish the same objective late last year and we never came up with a solution. So it will be interesting to 'see' if anything along this idea can get accomplished.

It would really assist with short term trade set ups moving with the trend.

Go into OmniScan and right click on any list. One of the choices that will appear is the Import an OmniScan. Choose it and locate the OmniScans I posted and import them. You do not put the OmniScans into a folder, they have to be compiled.

Well, there you go. You got my curiosity up! First I emulated the GMMAOsc(9) to make sure we were talking apples to apples. I created an indicator and the blue and red lines show good correspondence (however, not quite exact probably due to floating point calculations):

Now it is the blue oscillator line we want near zero. But, just how close? The oscillator can vary all over the place and so I arbitrarily set my scan to include just those values within 1% of zero when considering the GMMAOsc(9)'s values over the last 250 periods. So what we are looking for is the blue line above to be within 1% above or below historically of the zero line. I have attached the scan. See if it floats your boat.

Tom Helget

ADDENDUM: Please note my picture shows the indcator with an EMA, not an SMA as the EMA of the oscillator seemed to provide a closer match.

Tom, thank you - per our discussion in private post - here is another idea - this is only for longs and requires Wave Trader for the pull back. We may need to mesh the two (your scan and mine) to really have something pretty good in here. See attached

Good question. I looked myself in the criteria library and couldn't find it.

perhaps could be a plugin that Tom owns that we do not. Perhaps he created his own "Fundamental criteria" and titled it "RV2ratio" which sounds to me like some kind of Revenue/volume Ratio perhaps? I'll look again, maybe I missed it..

I apologize that I do not have the answer.. but give it another day or so and maybe Tom or someone from Support will clarify it more..

In the meantime, what you can do is add the criteria yourself and see if it works!! then maybe you can figure out what it is, or isn't..

This concept is one that I've documented from my own work done several years before N came up with that ratio. So I can speak to it a bit - in fact I recall having posted a long explanation of it many years ago in the N forums (probably lost forever in archives).

Nutshell:

Range to Volatility is just another way of saying Reward to Risk (as potentials). It can be determined by using historical price-swings as a measure of potential future Reward, and using historical ATR as a measure of potential Risk. Divide the price-swing by the number of bars it occurs over to get average profit per bar. ATR gives average risk-wiggle per bar. So, dividing the first by the second yields profit/risk ratio.

There are many ways I've used in the past for calculating the Profit swing. The most useful today would be to base it on the WaveTrader functions to indicate high low pivots. I've documented elsewhere how to find the bar-numbers associated with those pivots. Taken together, they provide a good potential measure of "ideal" reward.

I hope this helPs explain the concept better, and gives you some ideas about how to come up with your own solutions.